- U.S. confirms it has sent a response to the E.U. on its proposal to salvage the Iran nuclear deal (BBG)
- Ned Price, a spokesman for the U.S. State Department, confirmed the U.S. response, and the Iranian foreign ministry's spokesman said that "the careful review of the response has started in Tehran"
- However, National Security Council spokesperson John Kirby stated that while a deal is closer than ever, "Gaps remain. We're not there yet"
- OPEC's united front on potential action got stronger as more countries agreed with Saudi Arabia's view that production restraints might be required to stabilize the international oil markets (BBG, WSJ)
- Yesterday, Iraq, Algeria, Kuwait, Equatorial Guinea, and Venezuela made statements supporting market intervention, along with backing from Libya and Congo
- OPEC's president is the most recent to support Saudi Arabia's suggestion that the group might pump less oil due to market volatility. He added that the proposal was "in line with our views and objectives."
- OPEC+ is scheduled to meet on September 5 and discuss future output